Based

Equity

Bitcoin

Read

Japanese investment firm Metaplanet has been added to CoinShares’ global equity index for the first time. The index lists 45 companies involved in cryptocurrency and blockchain.
In a Nov. 5 <a href="https://contents.xj-storage.jp/xcontents/33500/b334ede7/58dd/463f/b648/c0585eec8956/140120241105510504.pdf" target="_blank" rel="noopener noreferrer nofollow">press release</a>, Japanese investment firm Metaplanet announced that it has been added to <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/coinshares/">CoinShares</a> Blockchain Global Equity Index, also known as the BLOCK Index. This marks the Tokyo-based company’ s first inclusion in a globally recognized equity index.
“This milestone underscores Metaplanet’s commitment to enhancing shareholder value through disciplined Bitcoin (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/bitcoin/">BTC</a>) accumulation and affirms its position as Japan’s premier Bitcoin Treasury Company,” wrote Metaplanet’s Representative Director, Simon Gerovich.
The BLOCK Index is an international equity index managed by CoinShares. The index tracks the performance of publicly traded companies engaged in blockchain and cryptocurrency. It features 45 companies from around the globe, including crypto exchange <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/coinbase/">Coinbase</a>, Bitcoin miner <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/riot-blockchain/">Riot Platforms</a> as well as software development company <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/microstrategy/">MicroStrategy</a>.
Metaplanet’s Bitcoin holdings have now surpassed 1,000 BTC. The firm’s <a rel="noopener noreferrer nofollow" href="https://crypto.news/metaplanets-bitcoin-total-holdings-surpass-1k-with-latest-10-4m-purchase/">latest BTC purchase</a> of 156.7 BTC for around $10.4 million brought its total holdings to 1,018 BTC or worth more than $70 million.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/metaplanets-bitcoin-total-holdings-surpass-1k-with-latest-10-4m-purchase/"> Metaplanet’s Bitcoin total holdings surpass 1k with latest $10.4m purchase </a>
According to Metaplanet’s release, the BLOCK index uses a selection process based on five scoring parameters which include earnings significance, earnings potential, development stage, business competitive positioning, and business sustainability.
Based on data from <a href="https://www.bloomberg.com/quote/3350:JP" target="_blank" rel="noopener noreferrer nofollow">Bloomberg</a>, Metaplanet’s estimated starting weight in the BLOCK Index is around 2.5%.
On Oct. 28, the firm noted that its <a rel="noopener noreferrer nofollow" href="https://crypto.news/metaplanet-adopts-btc-yield-as-a-key-performance-indicator/">Bitcoin yield</a> stood at 155.8% from Oct. 1 to Oct. 28. Following the latest news, Metaplanet’s shares jumped 6.20% to 1,695 yen. According to <a href="https://www.investing.com/equities/red-planet-japan-inc" target="_blank" rel="noopener noreferrer nofollow">Investing.com</a>, Metaplanet is the best-performing Japanese equity this year, gaining nearly 840%.
Dubbed as “Asia’s MicroStrategy,” Metaplanet continues to grow its Bitcoin holdings following in the footsteps of MicroStrategy, which holds the largest BTC holdings among publicly traded companies. Metaplanet decided to invest in Bitcoin back in May 2024, as a strategy to combat the economic challenges plaguing Japan at the time.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/metaplanet-adopts-btc-yield-as-a-key-performance-indicator/"> Metaplanet adopts ‘BTC Yield’ as a key performance indicator </a>

CoinShares adds Metaplanet to its Blockchain Global Equity Index

crypto.news

Other articles published on Nov 5, 2024

Swift, UBS, and Chainlink pilot blockchain tokenized fund

Big Money Investors Are Betting Big on Rexas Finance (RXS) Over Cardano (ADA) and Dogecoin (DOGE)...

Bitcoin ETFs Face Second-Largest Outflow Day Amid Election Jitters

Hong Kong Stock Exchange to Launch Unified Bitcoin and Ethereum Index

DOGE Price Prediction for November 5

A Pivotal Day for Crypto: What Could a Trump Victory Mean?

Join our free newsletter for daily crypto updates!